E-conveyancing for Faster Transfer of Properties
An article on the website The Adviser reports that more than half of the Australian citizenry is covered by the fast-growing electronic conveyancing network. As January rolled towards a close, Victoria embraced a full-fledged system for online transfer of properties.
E-conveyancing system
In fact, from as early as June 2014, the lawyers in Victoria have already been using the e-conveyancing system. PEXA is the government agency which supervises national roll-out of the e-conveyancing system. Transition from a manual procedure to an electronic one would mean faster allocation and transference of properties. There will also be lesser room for human error.
Quicker transactions anticipated
From the looks of it, a pan-nation e-conveyancing system is expected to take Australia far ahead of its peers in terms of security, swiftness, and customer-oriented service. By May 2015, PEXA will kick in in Queensland and Western Australia.
You can read the original article here.
NSW to get it soon
This will come to NSW, too, but there is no news yet as to when this may happen. The property market being as huge as it is, there is a chance that things could go off hand. Quantum human errors are possible when the stakes and volume of transactions are so high. E-conveyancing is definitely a much needed respite for those seeking faster transaction processes.
